by Hope
A tiny set back that I just realized that I forgot to plan for in my Hardcore Budget : Personal Property Taxes (essentially car ownership tax.) They will be due in June and while I haven’t received the bill yet, but I anticipate it will be somewhere around $300. I didn’t account for them in my budget for these tighter months. So how to deal…
I have decided that since I have brought in several new clients and monies that were not in play when I made the budget that I am going to just use some of that income to pay the bill. That way it will not affect my Consumer Debt Free date or budget.
Problem solved…what a change from when I couldn’t buy toilet paper, eh? We’ve come a long way this year!
Hope is a creative, solutions-focused business manager helping clients grow their business and work more efficiently by leveraging expertise in project management, digital marketing, & tech solutions. She’s recently become an empty nester as her 5 foster/adoptive kids have spread their wings. She lives with her 5 dogs in a small town in NE Georgia and prefers the mountains to the beaches any day. She struggles with the travel bug and is doing her best to help each of her kids as their finish schooling and become independent (but it’s hard!) She has run her own consulting company for almost twenty years! Hope began sharing her journey with the BAD community in the Spring of 2015 and feels like she has finally in a place to really focus on making wise financial decisions.
Yes, you all have come a long way. I can’t wait to read the update where you say you’ve paid your consumer loans off!
Virginia calculates personal property tax based on current assessed value. Its usually around the KBB price of the vehicle or lower. If I remember correctly your current car is older, so $300 may be an over-estimate. But its great that you can overestimate rather than be scraping for cash!
Also, most counties in VA prorate your property tax. So you may be entitled to a refund of property taxes you paid on your van. How long after you renewed registration did you sell it? Definitely something to look into. Since the value was so much higher than your new car it might even pay for this years taxes!
It’s amazing when the little things like that don’t give you sleepless nights anymore, isn’t it? Every sacrifice we go through to be debt-free is SO worth it in the long run!
Awesome progress! Looks like your debt payoff has bought some peace of mind 😉